Paytm Shares Jump 5% On Zomato Deal, FDI Nod For Investment In Paytm Payments Services

Paytm Shares Jump 5% On Zomato Deal, FDI Nod For Investment In Paytm Payments Services

SUMMARY

Shares of Paytm jumped more than 5% in the early hours of trading today (August 29) to INR 565 apiece on the BSE

The surge in the stock's price came a day after the fintech giant sold its entertainment ticketing business to Zomato and also received the approval from the Centre to invest in its payments arm Paytm Payment Services Limited (PPSL)

Paytm will now be reapplying for a payment aggregator (PA) licence from the Reserve Bank of India (RBI)

Shares of Paytm jumped more than 5% in the early hours of trading today (August 29) to INR 565 apiece on the BSE, a day after the troubled fintech major sold its entertainment ticketing business to foodtech major Zomato and also received approval from the Centre to invest in its payments arm Paytm Payment Services Limited (PPSL). 

However, the stock shed some of the gains later in the day and by 11:48 AM, it was trading 0.7% higher at 541.75 apiece.

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